Seaham company moves closer to commercial manufacture of pioneering solar panels

Power Roll, a Seaham-based company, is advancing toward commercial production of lightweight, flexible solar panels with a recent £4.3 million investment. This funding, provided by Maven Equity Finance and the Northern Powerhouse Investment Fund, will help Power Roll establish a large-scale production facility in Durham. These innovative solar panels are designed to roll out like plastic film, making them 25 times lighter and more affordable than traditional solar panels. This technology has the potential to open up solar power to rooftops previously unable to support heavier panels.

Power Roll plans to produce 100 megawatts of electricity annually within 18 months, equivalent to one million square meters of panels. By 2027, production could increase to one gigawatt, creating around 300 new jobs. CEO Neil Spann highlighted that these lightweight panels could help the renewable energy industry expand globally without depleting natural resources.

Investors are enthusiastic about this technology's role in transitioning to green energy. Sarah Newbould of the British Business Bank noted Power Roll’s mission to drive sustainable energy, and Maven Equity Finance sees their continued investment as pivotal for the company’s growth, with green energy solutions more critical than ever.